Buy custom The Impact of Technology on Production and Short-run Curves
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| Topic: |
Business
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| Number of pages / Number of words: |
3 / 707 |
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Also the diminishing returns and increasing average variable cost pushes the average total cost up. This effect is called the tug of war effect and the outcome depends on the quantity of units being produced. With the tug of war effect it gives the average total cost curve its U shape. The short-run marginal cost, which is the change in short-run total cost per unit divided by the change in the output, is impacted by technology by it decreases because the productivity of units are increased at a lower cost...
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The short-run marginal cost, which is the change in short-run total cost per unit divided by the change in the output, is impacted by technology by it decreases because the productivity of units are increased at a lower cost.
This is why it is always important to keep firms up to the new technology and advancements in order to stay in the competitive market with other firms...
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